Order Update: Simplex Infrastructure

Order Update: Simplex Infrastructure

Simplex Infrastructure (SI), a prominent player in the infrastructure space with presence across verticals of roads, railways, urban infrastructure, power and marine infrastructure.

The company has received an order amounting to Rs630 crore for construction of a 56-storied commercial tower ad-measuring 1 million sq. ft. in Dubai. The order is to be executed over a time frame of 30 months.

Addition of this order to takes the order book size to Rs10,646 crore, which is 3.8x FY08 revenues. We maintain a BUY on the stock, with a target price of Rs599.

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